Finance Manager at Human Destiny Executive Search and Recruitment

Job Description:

Human Destiny is currently headhunting for a Head of Finance and Business Services (Finance Manager) who will conduct financial research, interpret financial results, develop strategies and provide financial reports and insights to enable the Company’s Executive to make sound business decisions and meet the Company’s objectives.

The incumbent will be responsible for all aspects of financial management, including ensuring compliance with all necessary policies and procedures with the ultimate aim of ensuring the financial health of the Company. The Head of Finance and Business also distributes the financial resources of the Company, advises on investment activities and is responsible for budget planning.

 

Key Responsibility Areas (KRA's):

1. Strategic Management - 10%
2. Financial and Operational Management - 75%
3. Compliance and Risk Mitigation - 10%
4. General - 5%

 

Duties and Responsibilties related to KRA's:

1.Strategic Management:

• Assist in the development of strategies based on financial research and analysis to accomplish the company’s mission, vision and organisational goals and objectives
• Collaborate with the management team to create a strategic plan for financial performance improvement to maximise the generation and collection of revenue
• Advise on investment activities and provide strategies that the company should take
• Establish/implement an investment policy
• Recommend changes to policy based on technical guidance and interpretation of Financial Regulations and Financial Reporting Standards
• Define financial requirements against mandated goals and objectives, how annual and longer-terms goals and objectives can be met through the use of financial resources and translate these into financial commitments
• Assist the Supply Chain Manager is developing the long-range planning and strategy for supply chain management (procurement)
• Develop financial sustainability strategies

2.Financial and Operational Management:

• Ensure that sales are accurately transferred from the point of sale system to the financial system and reconciled accordingly
• Conduct reviews and evaluations for cost-reduction opportunities
• Record supplier invoices when received through receipt Bank and deliver monthly supplier age analysis
• Analyse costs, pricing, variable contributions, sales results and the company’s actual performance compared to budgets and business plans
• Ensure proper maintenance of the General ledger, including the preparation of adjusting journals entries
• Responsible for the maintenance of the Fixed Asset Register, which includes the management accounting of fixed assets and depreciation accounts
• Assist in the maintenance and monitoring of inventory records and conducting periodic reconciliations of inventory
• Monitor, review and signoff on all bank reconciliations ensuring their accuracy and completeness
• Prepare, manage and monitor budgets
• Prepare and manage cashflows and develop a reliable cashflow projection process and reporting mechanism that includes minimum cash thresholds to meet operating needs
• Monitor the day-to-day financial operations within the company such as payroll, invoicing and other transactions
• Oversee preparation of monthly management accounts
• Collect, interpret and review financial data and prepare monthly and annual reports and provide insightful information and guidance/recommendations to management to enable both long-and-short term decision making
• Analyse the company’s financial status and performance to identify areas for improvement
• Produce financial reports related to budgets, accounts payable, accounts receivables, expenses etc.
• Prepare the Annual Financial Statements in accordance with International Financial Reporting Standards
• Report regularly to management and stakeholders both formally and informally and provide advice on how the company and future business decisions might be impacted
• Manage the contracts and deliverables for outside services for tax preparation, auditing, banking, investments and other financial needs as necessary
• Prepare audit schedules for review and approval
• Liaise with the auditors to coordinate the annual external audit of the financial statements
• Calculate and reconcile VAT bi-monthly
• Submit monthly VAT returns
• Manage company’s tax compliance and SARS relationship
• Oversee the implementation of the contract’s strategy (how will we approach the market for the supply chain management leg of the business.)
• Work with the Supply Chain Manager to provide input into Sourcing (how to create value or prevent disadvantage within respective categories) strategy development.
• Responsible for the resolution of accounting discrepancies
• Establish and maintain financial policies and procedures for the company (including, but not limited to Finance, Accounting and Procurement)
• Stay up to date with technological advances and accounting software to be used for financial purposes
• Answer accounting procedure questions by researching and interpreting accounting policy and regulations
• Provide input to management on establishing appropriate key performance indicators (KPIs)

3.Compliance and Risk Mitigation:

• Research and recommend methods for minimising financial risk to the company
• Ensure compliance to all policies, procedures, Standard Operating Procedures (SOP) with recommendations for action and continuous improvement
• Ensure payroll records are done within the statutory requirements and necessary deductions effected and remitted to statutory bodies on time
• Develop strategies that work to minimise financial risk
• Manage the risk exposure of the company’s investments
• Understand and adhere to financial regulations and legislation
• Ensure compliance with financial regulations and internal controls
• Administer implementation of the applicable financial policies and procedures
• Work with Internal Audit Department and perform internal audit when necessary
• Ensure that human resource practices are compliant with labour laws e.g. employees must have contractual documents and personal files are properly maintained

4.General:

• Supervise employees and manage day-to-day accounting operations
• Conduct performance appraisals and develop appropriate training and development plans for employees under direct line of responsibility
• Ensure that all employees under incumbent’s control are achieving specified objectives and performance targets
• Work with the Supply Chain Manager in defining cost strategies for the business
• The incumbent may be required to perform other duties as Directed
• As the business is new, in the development and growth stage, the incumbent will be expected to undertake any reasonable training that is required as business needs change, including training for current or new duties as well as period reassessment of existing certification

 

Minimum Qualifications and Experience:

Educational requirements:

• Bachelor Degree in Accounting/Finance/Economics/Business.
• Three (3) – five (5) years of progressive financial responsibility including budgeting, financial reporting and tax with at least two (2) years management experience

 

Experience and Knowledge:

• Extensive understanding of financial trends within the industry and market
• Commercial and business awareness
• Understanding of data privacy standards
• Thorough knowledge of International Reporting Standards and internal control principles
• Working knowledge of all statutory legislation and regulations
• Proficient use of accounting software
• Thorough knowledge of tax and payroll requirements
• Experience in maintenance of fixed asset registers
• Experience in budgeting
• Advanced Excel skills and financial modelling experience

 

Skills:

• Interpersonal skills
• Management skills
• Superior attention to detail
• Mathematical skills
• Solid technical and analytical skills in finance and general accounting
• Time management
• Excellent oral communication and public speaking skills
• Written communication skills to compose reports, policies and documents
• Proven negotiation skills and the ability to develop strong working relationships
• Effective leadership skills and result oriented
• Ability to manage a team of resources and ensure that they are optimally planned, trained and utilised
• Ability to communicate strategies and philosophies effectively
• Sound knowledge of accounting principles and understanding of internal controls
• Strong business acumen and analytical skills
• Ability to work under pressure, plan personal workload effectively and delegate
• Strong ability to work with financial reporting systems
• Critical thinking skills
• Networking and communication skills
• High level of computer literacy (email, Word, Excel & Internet)

 

Personal Attributes:

Professionalism:

• Demonstrate professional competence in all interactions and engagements and lead by example
• Show persistence when faced with difficult problems or challenges.

Honesty and integrity:

• Act at all times with honesty and integrity and in the best interests of the company
• Lead by example to ensure that a culture of honesty and integrity extends through the entire organization
• Promote the company in all aspects of both professional and personal dealings
• Protect the reputational risk for the Divison

Initiative and imagination:

• Self-directed with strong initiative and personal responsibility/accountability

Commitment to continuous learning:

• Willingness to keep abreast of new developments in the field/industry

 

Advantages:

• MBA
• Professional qualification such as CA(SA) or CFA or CPA
• Experience working with Xero accounting system

 

Salary:

R700.00 p.a C.TC.